Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Joseph Bui

Joseph Bui has started 2 posts and replied 287 times.

Post: Starting Out in Real Estate Investing

Joseph BuiPosted
  • Rental Property Investor
  • Midwest
  • Posts 294
  • Votes 216

Hi Juan, I've been investing since late 2020. I have 9 doors across Memphis and Detroit and always looking to gain more.. Would love to connect and knowledge share about what you are seeing.

Post: Chasing Generational Wealth

Joseph BuiPosted
  • Rental Property Investor
  • Midwest
  • Posts 294
  • Votes 216

Hi Zachary, I started investing in late 2020 and now have 9 doors across the midwest (Memphis and Cleveland). Not sure what markets you are looking at, but would love to connect and knowledge share if you are interested.

Post: New investors looking into Cleveland market

Joseph BuiPosted
  • Rental Property Investor
  • Midwest
  • Posts 294
  • Votes 216

Hi Shane, I work with a team that helps source off market deal, project manages rehab (if necessary) and will also do property management. I've bought 6 properties from them. They mainly cover Detroit and Cleveland. Lets connect if you are interested.

Post: Recommendations On Next Real Estate Move For Beginners

Joseph BuiPosted
  • Rental Property Investor
  • Midwest
  • Posts 294
  • Votes 216
Quote from @Carlos Lopes:
Quote from @Joseph Bui:

Hi Carlos, I personally focus on long term rentals in the midwest that cash flow immediately. I have 9 doors across Memphis and Detroit at this point. I live in the Seattle area, but I work with a team on the ground that helps me locate deals, project manage rehab and provides property management. Normally, I do BRRRR style deals and force equity through rehab. Instead of selling your rental, I would look into cash out refinancing your rental and using that to do BRRRRs in the midwest and just keep on adding to your cash flow. Happy to connect and talk through strategy

Thanks for the response Joseph. I do like the idea of BRRR, but how did you go about finding a team to help you find those kinds of deals?

Also, as far as cash out refinance, would that be a good move in today’s market considering my current loan is 2.9%? 

thanks again for all your input! 

Happy to connect you with my team. They help out of state investors by sourcing deals, project managing rehab and property management. I sent you a connect request.

Post: Any recent BRRRR success stories around Baltimore?

Joseph BuiPosted
  • Rental Property Investor
  • Midwest
  • Posts 294
  • Votes 216

I've success doing BRRRRs in Detroit and Memphis. I didn't get all my money back on them but they appraised for 15% more than I paid total with rehab and got most of those funds back. Happy to connect and knowledge share.

Post: Planning to start investing in Detroit - any one use Upside investments?

Joseph BuiPosted
  • Rental Property Investor
  • Midwest
  • Posts 294
  • Votes 216

I started working with Nader and his team about 18 months ago. I’ve bought several properties from Nader, I’ve refinanced 2 and both have appraised for more than I paid, therefore getting most of those funds back in a loan. After purchasing, I flew to Detroit to evaluate my properties and meet Nader and his team. The properties were in c level neighborhoods as described. Renovation was on schedule and tenants were placed at the rents that were estimated. Have things gone perfectly with my investments? No. However his team has been open and transparent the whole way. When any issues arise, they are quick to respond and take care of the issue. 
I had such a good experience with Nader and Upside investments, I recently joined their team to help market their services. More than happy to walk anyone through my purchases with them in detail. 

Post: Are the GREAT Deals Gone?

Joseph BuiPosted
  • Rental Property Investor
  • Midwest
  • Posts 294
  • Votes 216
Quote from @Joe S.:
Quote from @Joseph Bui:
Quote from @Nicholas L.:

@Joseph Bui

I have to ask... are you really 'rehabbing' for 15K??  In Pittsburgh, similarly, you can absolutely buy properties in solid neighborhoods for 50-75K.  But you're not boosting the value enough to rent them for $1200 with 15K.  =)

 Rehabs are from 15-30k normally. I work with a team that helps with me end to end as I'm normally located in Seattle. They source deals, project manage the rehab and do property management as well. Yes, the average rent is about 1200-1300/month with a rehabbed 3 bed 1 bath 1000 sqft property.

How are you financing these properties since their lower price properties?

 Cash up front. Force equity through rehab then do cash out refinance. I work with a lender that will do loans as low as 50k. 

Post: Are the GREAT Deals Gone?

Joseph BuiPosted
  • Rental Property Investor
  • Midwest
  • Posts 294
  • Votes 216
Quote from @Nicholas L.:

@Joseph Bui

I have to ask... are you really 'rehabbing' for 15K??  In Pittsburgh, similarly, you can absolutely buy properties in solid neighborhoods for 50-75K.  But you're not boosting the value enough to rent them for $1200 with 15K.  =)

 Rehabs are from 15-30k normally. I work with a team that helps with me end to end as I'm normally located in Seattle. They source deals, project manage the rehab and do property management as well. Yes, the average rent is about 1200-1300/month with a rehabbed 3 bed 1 bath 1000 sqft property.

Post: Looking to grow portfolio with first multi-family

Joseph BuiPosted
  • Rental Property Investor
  • Midwest
  • Posts 294
  • Votes 216

I don't know the Austin market well, but based on my research, you most likely will not cash flow in that market for a few years at best. I, personally, invest in midwest markets where the properties cash flow day 1. I have 9 doors with a mix of multi families and single families. Would be happy to connect and share about what I'm seeing in the Midwest.

Post: Real Estate Newbie

Joseph BuiPosted
  • Rental Property Investor
  • Midwest
  • Posts 294
  • Votes 216

Hi Lysnandie, I'm not expert, but I own 9 doors across Memphis and Detroit. Happy to connect and share about my real estate experience.